XAll three leading benchmarks, the Nasaq Composite, The Dow Jones industrial average and the S&P 500 opened up 0.2%. Apple (AAPL) and all four FANG stocks registered healthy early gains, and more than two thirds of Blue Chip stocks opened higher.

The South China Morning Post framed the move as a possible Beijing political tactic. The news outlet quoted a China-based economist saying, "it could be an intentional leak to warn the Trump Administration that China has some levers to pull in responding to any punitive protectionist measures on trade."

Hong Kong's Hang Seng Index managed a 0.2% gain, adding a 13th session to what has now become its longest run-up since 1999. The benchmark is up 0.4% since the start of the year and almost 11% above a Dec. 7 low. In Japan, Tokyo's Nikkei 225 slipped 0.3%, down for a second day as the index pauses after its year-opening rally.

In Europe, stocks veered lower in afternoon trade. Frankfurt's DAX dropped 0.6%, Paris' CAC-40 slipped 0.43 and the FTSE 100 in London reversed early gains and traded down 0.1%.

Apple Eyes Rebound; KB Home, Delta Air Get Earnings Lift

On the Dow, General Electric (GE) punched out an early lead, up 1.5% as the stock aims to continue rising off its Dec. 28 low.

Netflix (NFLX) jumped 1.5%, an early leader among the FANG stocks. Barclays initiated coverage on the stock with an overweight rating and a price target at 245 — almost 16% above Wednesday's closing price. Netflix shares are nearing the top of a buy range above a 204.48 flat base buy point.

Expedia (EXPE) led the Nasdaq 100, up 2.6% in premarket trade after Morgan Stanley raised the stock to overweight, from equal weight. Expedia shares have been fighting to climb off the bottom of a six-month consolidation.

Some heavyweight earnings reports began rolling in, with KB Home (KBH) leapt 7.1% after reporting a solid fourth-quarter beat late Wednesday. Management's 2018 outlook cited "solid demand for housing driven by healthy employment, rising household incomes and strong consumer confidence." The stock is extended, up more than 40% since clearing a cup base in October.

Delta Air Lines (DAL) glided 1.4% higher. Its fourth-quarter sales and earnings topped analysts' expectations. First-quarter earnings guidance was below consensus targets, but the company lifted its full-year earnings outlook based on tax reform-related benefits. Shares were approaching the top of a buy range above a 54.16 buy point.

Progress Software (PRGS) spiked 11% in early trade. The database software developer reported late Wednesday above-forecast fourth-quarter revenue and earnings, with first-quarter and full-year earnings guidance also topping consensus views. The gaiun blasted the stock out of a buy range above a 43.07 buy point.

Xerox (XRX) climbed almost 5% at the open, boosted by news reports that the company was discussing a "major deal" with Japan-based Fuji Film Holdings. The report said a full takeover was not in the offing, but an array of possible deals included a possible change of control at Xerox. Xerox shares are attempting to start up the right side of a deep, four-month consolidation.

Jobless Claims, Producer Prices Slip; Dudley To Give Outlook

First time unemployment applications rose for a fifth straight week, up 4% to 261,000 in the week ended Dec. 6, the Labor Department reported. Economists had estimated a decrease to 245,000 claims.

Prices paid to producers declined 0.1% in December, reversing November's 0.4% advance and coming in below consensus expectations for a 0.2% increase. Core prices, minus energy and food, were also down 0.1%, vs. a 0.3% gain in November and estimates for a 0.2% rise.

The Treasury Department is expected to release its December budget numbers at 2 p.m. ET. New York Federal Reserve Bank President William Dudley is scheduled to comment on the U.S. economic outlook for 2018 for the Securities Industry and Financial Markets Association in New York at 3:30 p.m. ET.

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